Wealth Manager-Where really big money goes to find company

NEW YORK, June 20 (Reuters) - You've worked the golf clubs
and joined all the right charitable organizations. Maybe now is
the time for you to take a seat inside the manor house.

Family Office Exchange and the Institute for Private
Investors, the largest peer-to-peer membership associations for
families and individuals, offer connections to people with
billions of dollars and many of them are actively looking for
new ideas for how to manage their considerable wealth.

Membership would seem to be a no-brainer -- but a financial
adviser considering joining should first understand the
cultures of these ultra-high-net-worth enclaves.

Chicago-based Family Office Exchange is, as its name
implies, geared towards wealthy families who either belong to a
multifamily wealth management office or have a single-family
office to handle their business, tax, accounting, legal and
asset management needs.

Wealthy families and individuals who are seen as more
self-directed tend to belong to New York-based Institute for
Private Investors, which was bought earlier this year by
Campden Media, a London company which presents conferences and
networking forums for ultra-high-net worth families around the
world.

Both organizations are for-profit companies founded over 20
years ago that provide members with research, education and
networking opportunities. Family Office has about 300 member
families with combined investable assets estimated at around
$120 billion, and Institute for Private Investor's has
1,000-plus individual members have an estimated $50 billion in
combined investable assets.

IPI members must have at least $30 million in investable
assets. While FOX doesn't require a minimum, the organization
notes that it takes about $100 million to run a family office.

Both have about 150 professional service firms as members,
including financial advisers and broker-dealers. FOX charges
wealth managers $15,000 to join and IPI, which declined to be
interviewed for this story, charges $5,000, according to
industry sources.
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